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1408 Barbour Drive Wylie, TX 75098

4 Beds 2 Baths 2,041 sqft Built 2003

$289,500

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $141.84
  • 2 Days on Market
  • MLS # : 14536195
  • Updated Date : 03/20/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,041 sqft
  • Baths : 2 full
Listing Agent

Ivy League Realty

Listing Agent's Description

Corner lot property with amazing landscape and decorator touches. Home features four bedrooms and two full bathrooms. Open kitchen flows into living area to allow for entertaining.Neutral colors make this home warm and inviting! Owners suite features a walk-in closet,jetted tub,double sinks and separate shower. The back yard oasis is so inviting! Gunite pool with stone border is stunning ,relax outside on a warm day !Sellers are having showings Saturday from 10 am to 3 pm , and Sunday 12pm -3 pm no exceptions! No survey so buyer would need to get a new one since pool was added,and buyer to verify all information in listing for accuracy.

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Dodd Elementary School Primary Regular 570 37 8
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie High School High Regular 2,061 127 9

Dodd Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 37
8
GreatSchools Rating

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 127
9
GreatSchools Rating
 

$260,550$318,450$289,500

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,006
Property Tax -$599
Property Insurance -$145
HOA -$70
Property Management Fees -$99
CASH FLOW
$71

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$289,500

PROJECTED PRICE

$1,990

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,468

INVESTMENT

$82,468

Down Payment
$72,375
Rehab Estimate
$5,750
Closing Costs
$4,343

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,006

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,375
Loan Amount $217,125
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,418

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,990

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,026

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,9904$2,0005$2,190
$2,190
RENT COMPS ANALYSIS
  • 1408 Barbour Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.98
    •  
  • 1304 Columbus Lane Wylie, TX 1
    • 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 1404 Barbour Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2003
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 1313 Fayette Court Wylie, TX 4
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2004
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 1406 Summerdale Lane Wylie, TX 5
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2003
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.05
    •  
PROPERTY LISTING DETAILS
April Ivie
Ivy League Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536195
Last Updated: 03/20/2021
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